Market-based or bank-based financial system drives the economic growth? Evidence from Indonesia

UNSPECIFIED Market-based or bank-based financial system drives the economic growth? Evidence from Indonesia. Market-based or bank-based financial system drives the economic growth? Evidence from Indonesia. ISSN 978-967-10524-0-1

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Abstract

This paper examines the role of market-based and bank-based financial systems to the economic growth. Particularly, it tests whether the market or bank-based financial system that has a bigger contributions to the growth. Using Indonesian data over 1981-1996 and 2000- 2008 periods, the result suggests that bank-based financial system drives much of the economic growth in this country. However, when taken simultaneously, the results suggest that banking and stock market sector does not well explain the economic growth. Another financial system, which is a traditional financial system, that is mostly used by the SME may be well explaining the economic growth in Indonesia.

Item Type: Article
Subjects: E Economy, Accounting, Development > E11 Economy (General)
Depositing User: Darmawati Muchtar
Date Deposited: 05 Apr 2022 02:25
Last Modified: 05 Apr 2022 02:25
URI: http://repository.unimal.ac.id/id/eprint/3907

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